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The human imagination has a way of inventing an infinite number of reasons why the personal ego is superior to logic and evidence.
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New data show the trade war initiated last year by the United States is costing the global economy dearly.
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The Coalition for a Prosperous America writes as if tariffs will miraculously cause the workers and resources necessary to perform all this new production to materialize out of thin air – a proposition that causes one to laugh as one does when reading The Onion.
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To trust the U.S. government to impose tariffs at home as it acts as an enforcer for private companies that choose to operate abroad is a recipe for cronyism costumed as ethical law enforcement.
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Let’s just try a mental experiment. Let’s regard the players on the team as some seem to regard themselves, exploited and underpaid. The same claims are made for many people around the world. The commonly proposed solution is the boycott.
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Edward Stringham addresses the trade war and the mistaken notion of the trade deficit, speaking on BBC.
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Let us at least learn from the real-time history and experiment in process right now. Let us look at the facts and compare them with the promised results.
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Even if the reduction of trade barriers accounts for only a small part of the observed increase in growth, the cumulative gains from reform appear to be substantial.
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A protectionist cannot adequately explain why each and every household in the world does not itself literally build its own home.
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Is Trump engaged in a high-stakes game to bring about freer trade with China, or just looking for a way to justify the tariffs that he claims have revived American manufacturing?
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The Wonderland of sincere protectionists is truly a crackpot unreality.
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The trade war is heating up. Unfortunately, the Fed’s current framework will exacerbate the damage.
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